XTransfer released the "Guangdong Small and Medium-sized Enterprises Export Trade (B2B) Index Report from January to August 2023"

The world's foreign trade depends on China, and China's foreign trade depends on Guangdong. Guangdong plays a "ballast stone" role in stabilizing the overall situation of foreign trade in the country. In the first seven months of 2023, the total value of Guangdong's foreign trade exports was 3 trillion yuan, a year-on-year increase of 3.1%. From a single month perspective, in July, Guangdong's foreign trade exports stabilized and rebounded, with a year-on-year increase of 0.4%. Under the negative impact of the current weak global economic recovery and insufficient external demand, it fully demonstrated the resilience and vitality of Guangdong's foreign trade.

Focusing on the development of Guangdong's foreign trade exports from January to August 2023, XTransfer, in conjunction with the Commercial Industry Committee of the China Council for the Promotion of International Trade, officially released the "Guangdong Small and Medium-sized Enterprises Export Trade (B2B) Index Report from January to August 2023", which includes the "Guangdong Foreign Trade Export Leading Index from January to August 2023" and the "Guangdong Small and Medium-sized Foreign Trade Enterprise Competitiveness Index from January to August 2023". The index cites representative sample data of the same batch of customers from January to August 2023 and the same period of previous years, and combines the overall export performance of more than 350,000 small and medium-sized foreign trade enterprises served by XTransfer to reflect the export situation of Guangdong's small and medium-sized foreign trade enterprises from January to August 2023.

In B2B export trade, due to the characteristics of prepayment, the collection data generally shows trends before the customs data and logistics data, and can predict the foreign trade export situation in the next 1 to 3 months. We believe that 75 is the "foreign trade boom and bust line". If the leading index is higher than the "foreign trade boom and bust line", it reflects that the foreign trade industry is developing well; if it is lower than the "foreign trade boom and bust line", it reflects that the foreign trade industry is in a state of contraction.

The above chart shows the foreign trade leading index from January to August in 2022 and 2023. It can be found that the months other than the Spring Festival in 2022 are all above the boom-bust line. In 2023, the average monthly performance is 70.26, and each month is below the boom-bust line.

Compared with 2022, the competitiveness index of Guangdong's small and medium-sized foreign trade enterprises in 2023 has declined significantly, and the average total amount of a single order from January to August was 4.25% lower than the same period last year. However, in August, the average monthly single order amount increased by 14.53% year-on-year, and the competitiveness index rebounded from the bottom and increased significantly.

From the perspective of export destinations, the "circle of friends" of Guangdong's small, medium and micro foreign trade enterprises continues to increase. The average number of countries or regions exported by small, medium and micro enterprises is 2.15. Among them, enterprises that export to more than 10 countries or regions account for 1.11%, and enterprises that export to more than 3 countries or regions account for 14.2%. The largest number of countries or regions exported by a single enterprise is 39. In addition, more than 28% of foreign trade enterprises have obtained new orders, and the number of foreign trade enterprises with new orders has increased by 6% compared with the same period last year.

From the perspective of trading partners, the top three countries or regions with the highest payment volume for small and medium-sized foreign trade enterprises are: the United States, the European Union, and ASEAN. While stabilizing traditional markets, small and medium-sized foreign trade enterprises are accelerating the expansion of emerging markets. The combined share of major traditional export markets, the United States, the European Union, and the United Kingdom, increased slightly from 41.2% in the same period of 2022 to 41.7%, and the combined share of countries in the "Belt and Road" region increased slightly from 27.4% in the same period of 2022 to 27.7%. Exports to Latin American countries performed well, among which Mexico's payment volume increased by 6% year-on-year.

In terms of export categories, the top three in terms of receipts are electromechanical products, textile raw materials and textile products, and miscellaneous products, while integrated circuit boards, clothing, and lamps rank first in each of the above subcategories. Among them, the export of women's clothing increased by 74% compared with last year, and the export of stage lamps increased by 19% compared with last year.

XTransfer